Thursday, May 14, 2020

The Pandemic’s B-side: Sustainable Real Estate Development Gains Ground in Uruguay


Fernanda Prece

Miami, FL,  May 14, 2020--According to Juan Martin Diaz of notonlydata.com:

 "The market is experiencing growing interest in real estate options in open spaces, far from large urban centers."

These are places where one can escape, and find refuge and harmony in high-end design that meets nature and personal wellness.

Developments such as Las Cárcavas, in Uruguay, stand out with their environmentally friendly proposal and strategic location in a luxury, beach-front corridor.

"The eruption of COVID-19 onto the global stage has caused innumerable
transformations in all areas of the economy, which now face an uncertain future. But it has also ignited new challenges. No stranger to these changes, the real estate market is also experiencing fluctuations. 

While owning property has traditionally been a valued form of savings in the midst of global and regional crises, there is now another phenomenon that is paving the way for new opportunities within this sector.



 John Brookes

Social isolation has also modified the preferences and habits of people who, across the board, are now looking more than ever for contact with nature - an asset that has become a highly sought after characteristic.

Along this line, developments in green, open spaces, with wide-open surroundings, both remote and sustainable, have started to become more and more attractive within the real estate market.

And though both investors and developers are still being cautious, in this context luxury real estate developments with these characteristics have become an attractive and secure option for foreign investors.




Located in Uruguay, along the Rocha coast in Garzón – a fifteen-minute drive from José Ignacio, which has become the most exclusive area in Punta del Este – the high end real estate development Las Cárcavas is a clear example of this trend.

Las Cárcavas gets its name from the rock formations generated from the rain water erosion as it flows to the sea, a typical feature of Garzón's coastal landscape. 

Unique in its style, it boasts twenty-four ranch lots and space for sixteen bungalows, all distributed on just over 128 acres situated on a UNESCO national biosphere reservation.

The development offers access to 250 meters of exclusive beach front with warm water, thanks to the tropical currents coming from Brazil, as well as luxurious amenities: a swimming pool, beach club on the shore of a lagoon, natural grass tennis court, grill area, fire pit and corrals.





"Sustainability and environmental impact are two concepts getting more attention nowadays, generating lots of interest from investors: so, even in times of adaptation and transformation for many areas, our projections are positive given the current scenario" asserts Fernanda Prece, Commercial Director of Las Cárcavas.

The project ideals are based on sustainability and a strict commitment to the environment. Therefore, and in regards to design, the ranches follow certain pre-established architectural guidelines in order to preserve the spirit of the natural landscape.





 In line with the overall vision, Englishman John Brookes, in collaboration with the Barzi Casares studio, has been commissioned to helm the landscape design for the open and communal spaces of the project; both highly respected names in the international market for their avant-garde and innovative work, in-sync with environmental protection. 

The Director explains that in Las Cárcavas, as developers, they understand the "changing dynamics of their clients' needs" and that is why they are committed to offer "substantial advantages to an investor who knows the market, and is eager to find projects that contemplate new trends."




Another unique advantage of the project is its strategic location. Besides offering political, social and economic stability, Uruguay offers fiscal advantages through recently announced tax incentives, many of which are aimed at the foreign investor. 


About Las Cárcavas

Las Cárcavas is a luxury real estate development on the Rocha coast, situated at the 204.5-kilometer mark of Road 10, in Garzón, Uruguay.

The location covers an area of over 125 acres, divided into 24 ranch lots of 2.5 acres each and 16 bungalows, each built on lots measuring 1,500 m2.

The cost for the ranches ranges between USD 580,000 and 3 million dollars. Each bungalow is valued at 1 million dollars and are turnkey ready.

Isay Weinfeld
(Photo courtesy of thepinnaclelist.com)

The access to Las Cárcavas from Punta del Este Airport is through Road 10, driving over the iconic circular bridge on Garzón Lagoon. 

Optimum Capital Partners are the landowners and developers of Las Cárcavas, which is united as a whole project under the signature of Isay Weinfeld.


For more information, please visit: www.lascarcavas.com


Contact: 

Juan Martin Diaz 

martin@notonlydata.com

JLL closes $8.75 million sale of Philadelphia light industrial building


 Jenna Imperatore

MORRISTOWN, NJ, May 14, 2020 – JLL Capital Markets announced today that it has closed the $8.75 million sale of an 86,315-square-foot light industrial building in a high barriers-to-entry market in Philadelphia, Pennsylvania. 

Michael Oliver
JLL marketed the property on behalf of the seller, The Hampshire Companies. Mountain Development Corp. purchased the asset.  

The facility is situated on 5.7 acres at 3445-3535 S. Front St. in a last-mile distribution area in south Philadelphia adjacent to Interstate 95 and less than one mile from Interstate 76.


The property has an active rail spur served by Conrail, CSX and Norfolk Southern. The building is also less than one mile from a CSX rail yard and 1.5 miles from the Philadelphia Navy Yard.

 Jose Cruz
The property features a rear load configuration, clear heights ranging from 18 to 44 feet, 14 loading docks and 10 percent office finish.

 The building is home to Ferguson Enterprises, the largest U.S. distributor of plumbing supplies.

 The JLL Industrial Capital Markets team representing the seller was led by Senior Director Michael Oliver, Senior Managing Director Jose Cruz, Directors Jordan Avanzato and Marc Duval, Senior Managing Director John Plower and Senior Vice President Jenna Imperatore.

 “The Mountain Development team did an incredible job closing on this transaction during a difficult time in the market,” Oliver said. “This shows you there are strong buyers for quality real estate and tenancy today”.

Jordan Avanzato 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 
Marc Duval
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. 

The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. 

Additional information on The Hampshire Companies is available online at HampshireRE.com. To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow the company on Facebook (facebook.com/hampshirere), Twitter (@hampshireco), and LinkedIn (linkedin.com/company/the-hampshire-companies).

About Mountain Development Corp.

Founded in 1979, Mountain Development Corp. (MDC) is a full-service real estate company with more than 40 years’ experience developing, acquiring, building, repositioning, managing, leasing and financing commercial property. 


John Plower 
MDC is an active acquirer of a broad range of opportunistic and value-added real estate investments, together with select core projects, capable of generating attractive, risk-adjusted returns for both its principals and select partners.

Contact: 

Kimberly Steele, JLL Senior Associate, Public Relations
Phone: +1 713 852 3420


Two Longtime South Florida Commercial Property Managers Join Berger Commercial Realty/CORFAC International’s Miramar, FL Office


Erica Portes
FORT LAUDERDALE, FL – Two longtime South Florida commercial property professionals have joined Berger Commercial Realty/CORFAC International at its Miramar, Florida office, the company announced. 
                     
Ian Miranda, whose commercial property experience includes a strong finance background, and Erica Portes, who has spent her career in property management, both will hold the title of Senior Property Manager at Berger. 

 They will work collaboratively on the company’s substantial Miami-Dade-based Seagis portfolio, most of which is classified as industrial.

Ian Miranda
Prior to joining Berger, Miranda managed a major downtown Miami commercial tower, for which he oversaw operating and financial efficiency, value enhancement and property maintenance.

 In addition to managing significant tenant build-outs and capital remodeling, he achieved LEED Gold certification for the property.

Lloyd C. Berger
“Both Ian and Erica’s strong property management experience adds even more to the depth of market knowledge we bring our clients,” said Lloyd Berger, founder and president of BergerCommercial Realty.

 “Berger is strategically focused on delivering the full spectrum of expertise necessary to enhance the value of every client’s asset.”

A graduate of Florida International University with a Bachelor of Arts in Finance, Miranda lives in Miami.

Portes, who has spent her career in Miami-Dade property management, most recently held the title of Senior Property Manager for a major multi-national real estate and supply chain logistics company.  There, she led a team that handled all aspects of property management, including maintenance, vendor management and customer service.

Also a Miami native, Portes studied Business Administration and Management at Miami-Dade College.

  
CONTACT:


Jennifer J.H. Pierce
Account Director
Pierson Grant PR
6451 North Federal Highway, Suite 1200  |  Fort Lauderdale, FL   33308
T:  954.776.1999, ext. 232  |  E:  jpierce@piersongrant.com